Geode Capital Management LLC Acquires 9,170 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Geode Capital Management LLC raised its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,004,057 shares of the industrial products company’s stock after acquiring an additional 9,170 shares during the period. Geode Capital Management LLC owned approximately 2.20% of Franklin Electric worth $105,264,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Franklin Electric by 55.7% in the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 107 shares during the last quarter. CWM LLC boosted its stake in shares of Franklin Electric by 16.7% in the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock worth $72,000 after buying an additional 98 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Franklin Electric in the third quarter worth $74,000. Signaturefd LLC increased its position in Franklin Electric by 29.9% during the third quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock valued at $75,000 after acquiring an additional 164 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in Franklin Electric in the third quarter valued at about $77,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird cut their price target on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th.

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the sale, the insider now directly owns 9,032 shares of the company’s stock, valued at $905,187.04. This trade represents a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.72% of the company’s stock.

Franklin Electric Trading Down 4.5 %

Shares of FELE stock opened at $99.31 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 2.35 and a beta of 0.98. Franklin Electric Co., Inc. has a 1 year low of $91.45 and a 1 year high of $111.94. The firm has a fifty day moving average price of $105.12 and a 200-day moving average price of $101.60.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.10). Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The company had revenue of $531.40 million for the quarter, compared to the consensus estimate of $551.08 million. During the same period in the prior year, the firm posted $1.23 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities analysts predict that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Thursday, November 7th. Franklin Electric’s payout ratio is 25.32%.

Franklin Electric Company Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.